Empire Builders Revisited: Zero to Seven Figures in 2.5 years
In this special revisited episode...
Nick reflects on the day in 2015 when he had to start again from a point of absolute zero and the point he has now reached with over 4,000 people having attended his Expert Empire events.
He shares his key lessons from the last 5 years and the importance of any business at any point of knowing how to increase cash flow.
When you are a business owner it’s your energy and mindset that drives your business forward and your worst day could be your best day if desperation is your inspiration because it will then be the day you start your comeback.
KEY TAKEAWAYS
Your energy, your state, your mindset is the biggest influence on the success or not of your business. Specialise and focus on one to one consulting so you have a secure foundation. Then build a more leveraged, scaled model. How you make your money is much more important than how much money you make. My focus was primarily on serving and creating a better experience for our clients than anyone else in our industry. There are 4 ways to increase cash flow in your business and these are relevant to anybody whatever phase your business is in;- Push back any money you owe – you can negotiate terms that push back payment terms if you communicate effectively with suppliers.
- Pull forward money you are owed – contact clients and offer them the opportunity for a discount if they pay upfront this can benefit both them and you.
- Borrowing – this can be a smart move if you can borrow with favourable terms. If the return is better than the cost of borrowing then it can be worth doing.
- Get new sales – look at when you can make sales and gain sponsorship to offset costs as rapidly as possible.
BEST MOMENTS
‘Being in a place of desperation made me take action’
‘I was inspired to create events that were about serving rather than selling’
‘The success would never have been possible without having been at that absolute zero’
VALUABLE RESOURCES
ABOUT THE HOST
Nick James
Nick dropped out of university at the age of 21 and failed spectacularly with his first coaching business, which forced him to take a £16k/yr telesales job.
Within 12 months he was the top performer and left to start his second business at 24. This time he discovered a winning formula and before long had a multi-six-figure company.
He then made a huge mistake which nearly put him out of business and cost him £50,000 in personal cash!
Fortunately, Nick kept it afloat, turned it around, and sold that business 2 years later in a seven-figure deal.
He then co-founded a multi-million-pound marketing company, which he exited in 2015, and created Expert Empires.
Today, Expert Empires is known as the UK's number one business event for Experts, with world-renowned celebrity speakers like Gary Vaynerchuk, Grant Cardone, Chalene Johnson, David Goggins, and Lewis Howes gracing the stage.
Nick also specialises in helping Coaches, Consultants, Speakers, Trainers, and Authors take their businesses from zero to six figures and beyond through his Expert Empires Mastermind programme.
